Poway - Week of December 15th, 2014
Single Family Homes
This WeekThe median list price in POWAY, CA this week is $799,000. The 121 properties have been on the market for an average of 113 days.
Inventory has been decreasing lately but the Market Action Index is falling also. With days-on-market climbing,these are relatively negativeimplications for the market.
Supply and DemandIn the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller's Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.
The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.
Inventory of Properties Listed for Sale
Inventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply.
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Data Provided by and Copyright Altos Research LLC